v3.25.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consisted of the following as of:
June 30,December 31,
20252024
(in thousands)
Term note with interest payable monthly, interest rate at Adjusted SOFR, plus an applicable margin of 2.50% (6.82681% at June 30, 2025) quarterly principal payments of 0.25% of original principal balance with balloon payment due July 2028 (1)
$529,375 $532,125 
Revolver with interest payable monthly, interest rate at Adjusted SOFR, plus an applicable margin of 2.50% (6.93677% at June 30, 2025), and outstanding balance due January 2028 (1)
— — 
Principal debt529,375 532,125 
Deferred financing costs on long-term debt(2,627)(3,069)
Discount on long-term debt(954)(1,114)
Total debt525,794 527,942 
Less current maturities5,500 5,500 
Long-term portion$520,294 $522,442 
(1) See Note 20. Subsequent Event for additional information on the July 29, 2025 amendment to refinance and extend the maturity date.
Schedule of Interest Rate Swap Agreements in Connection With Credit Facilities
The Company has entered into the following interest rate swap agreements in connection with its Credit Facilities to convert a portion of the floating rate component of the Term Loan from a floating rate to fixed rate:
Effective
Expiration
Fixed Interest
Notional
Asset (Liability) Fair Value at
Swap
Date
Date
Rate
Amount
June 30, 2025
(in thousands)(in thousands)
Initial Swap
October 31, 2022October 31, 20274.212 %$200,000 $(3,511)
Second Swap
March 31, 2023October 31, 20273.951 %100,000 (1,165)
Third Swap
September 20, 2024October 31, 20273.395 %125,000 165 
Schedule of Maturities of Long-term Debt
Aggregate maturities of the Company’s debt for the years ending December 31 are as follows as of June 30, 2025 (in thousands):
Year ending December 31:
2025 (remainder of year)
$2,750 
20265,500 
20275,500 
2028515,625 
Thereafter— 
Total aggregate maturities of the Company’s debt$529,375